Co-Operative Bank launches new tracker mortgage

The new two-year tracker mortgage guarantees to track the Bank of England Base Rate, currently 5.75 per cent, minus 0.46 per cent for the initial period of the loan. Furthermore the new mortgage product offers excellent overall value to all borrowers whether buying for the first time, moving home or simply remortgaging from another lender. Borrowers choosing to remortgage will also benefit from free legal and valuation fees.

John Barker, Head of Mortgages at Co-operative Financial Services, said: “Customers taking out this new mortgage will not only benefit from a very competitive rate, but will also have the reassurance that the rate will remain under the Base Rate for the initial period of the loan”. Besides offering a comprehensive range of mortgage products, the Co-operative Bankdoes not impose costly Higher Lending Charges.

Full text